LinkedIn Slices Fiverr
What's scarier than ghosts and goblins on Halloween?
LinkedIn looking to slice up Fiverr and Upwork,
The Great Resignation heads to a Denver airport and - horror of horrors -
Not one, but TWO Canadian startups in Buy-or-Sell w/ FloCareer, SkyHive & Bridgit
It's a razorblade hidden in an apple headed straight for your eardrums, boys, and girls, as we also cover robots in your McDLT and your buffalo wings. Witches get stitches on the latest podcast, featuring your two favorite warlocks! Boo, indeed. Er, I mean, boo Indeed (yeah, we torch them too).
PODCAST TRANSCRIPTION sponsored by:
Disability Solutions helps companies find talent in the largest minority community in the world – people with disabilities.
Hide your kids! Lock the doors! You're listening to HR’s most dangerous podcast. Chad Sowash and Joel Cheeseman are here to punch the recruiting industry, right where it hurts! Complete with breaking news, brash opinion and loads of snark, buckle up boys and girls, it's time for the Chad and Cheese podcast.
Oh yeah. A 33 year old electrical engineer revealed that he spent $150 a year to eat all of his meals at a local Six Flags amusement park. Who wants red velvet funnel cake for dinner kids? What's up everybody you're listening to the Chad and Cheese podcast. This is your co-host Joel "fried Oreo" Cheeseman.
And this is Chad "what do you mean I'm too old to trick or treat?" Sowash.
On this week's show LinkedIn officially goes gig. Who wants bots with their burgers and Buffalo wings? And it's another buy or sell maybe with corn dogs this time. Let's do this.
Chad (1m 12s):
Ah, dude. So we talked about Halloween Kills last week and Jamie Lee Curtis not holding up. That's all I've got to say. She's still a bad ass bitch, just so you know.
Joel (1m 21s):
She is a bad ass. We need Sigourney Weaver and her to do a film where they beat up like murderers and aliens and shit. That's what.
Chad (1m 29s):
That'd be awesome.
Joel (1m 30s):
Well, those screams mean Halloween is coming up, Chad. What are you empty-nesters doing this year?
Chad (1m 38s):
I don't know. This is a not safe for work podcast. So I guess I can go into that, but I'm not.
Joel (1m 45s):
So it's going to be one of those kind of Holloway nights.
Chad (1m 50s):
Oh yeah. You know where you have the costumes that are like always like the, the hooker costumes and it doesn't matter what it is. You got the nurse hooker, you got the, the construction hooker you got. I mean, it's just like, I'm going to get one of those.
Joel (2m 4s):
Well, I'm having a family friendly Halloween this year.
Chad (2m 7s):
Good for you!
Joel (2m 8s):
I have a four year old who's going as Spiderman. I will be a convict from roughly the forties, I guess. And the wife is going as a deviled egg, which means she's an egg with horns with double horns basically. And the bigger kids are moving on. They're hanging out with friends, playing tricks, whatever.
Chad (2m 28s):
Yeah, I love it!
Joel (2m 29s):
So we've sort of officially lost two of the three kids and it'll be the four year old around the block a few times snatching up some Snickers and Reeses. Yeah.
Chad (2m 39s):
That's the way it's supposed to happen. Just so you know, they're supposed to get the hell out and go do their own thing.
Joel (2m 48s):
I agree. I agree. Oh shit. Yeah. Well, let's do some shout outs here on the eve of all hollows.
Chad (2m 56s):
So I'm going to shout out a couple of quick shout outs to Matthew Swanson over at Radancy. He loves the podcast and he hates the unicorn song. Join the club, Matt, more unicorns to come, but we've got to find another sound effect track for that one. Shout out to Mark and Alexa over at Pillar for the swag and the popcorn. It was so salty and sweet. That's good stuff, baby.
Joel (3m 20s):
Indiana popcorn, by the way.
Chad (3m 21s):
It was good. Good catch. Good catch. A big shout out to Eric Anderson who loves the podcast and isn't even in our industry and this isn't the first time we've had listeners reach out that say that they don't understand half the shit that we talk about. Nonetheless, we're pretty fucking entertaining. So that being said, feel free to share the pod with your peers, family, friends, in your social streams. And also give us a review. That's not asking for much, obviously for all the time, love and tenderness that Joel and I put into this podcast just for you kids, just for you.
Joel (3m 55s):
And our favorite reviews are yes, indeed. Shout out to Governor DeSantis from the great state of Florida who took poaching to a whole new level by offering cops from outside of Florida, moving expenses up to $5,000 to come police in Florida if you don't feel welcome in your current state. That was as if Florida needed more unvaccinated workers.
Chad (4m 20s):
Yeah right! That's exactly what they need. Fucking idiots.
Joel (4m 22s):
Who is not an idiot though, Chad is our friends at Hertz, formerly bankrupt Hertz, Tesla and Uber. The companies have all gotten together. Hertz is agreed to buy a hundred thousand Teslas over the next few years. And Uber has plans to offer 50,000 of those to drivers, to rent by 2023. So you're going to see a lot more Teslas on the road.
Chad (4m 47s):
Rolling in a Tesla, being an Uber driver. That's not a bad perk, right?
Joel (4m 50s):
I do like that. I wonder how they pick the Uber drivers. Like is it seniority? Is it a first come? Lottery? That'll be interesting. Okay.
Chad (4m 57s):
That's a good question. That's a good question. A big shout out to Roberto over at Recruitology for sending us new gear as well. I got a t-shirt, got a polo, got a very cool winners zip-up vest kind of Ted Lasso thing, which is really cool, not to mention two COVID tests, which I think is awesome because we're about ready to travel to Belgium. And that's what we're going to need before we get on that plane.
Joel (5m 24s):
I'm not sure what it says about us, that we got a COVID test. Everybody's getting them. They need to make these with like corporate logos on tthe actual tests. There's a business idea.
Chad (5m 34s):
Before you come to see us take this test.
Joel (5m 36s):
We'll Chad you know, nobody likes a good pair of Spanx, like I do. And my next shout out this bank CEO, which is quite a heartening entrepreneurial story, just got like a billion and a half dollars from a big investment firm. So she celebrated by giving all our employees two first-class tickets to wherever the hell they wanted to go.
Chad (5m 59s):
Joel (5m 60s):
As well as 10 grand spending money. So get on those Spanx and enjoy a trip around the world wherever you want and look good doing it Spanx employees.
Chad (6m 10s):
Gotta dig that. Gotta dig that.
Joel (6m 13s):
Next one is, you remember Vinita?
Chad (6m 15s):
Yeah, she was over at Maya.
Joel (6m 17s):
Yeah. She has landed at SAP Success Factors. She was always a big fan of the show. I assume she still is. So shout out to Vinita.
Chad (6m 27s):
Yep. So kids it's getting closer. That's right. You gotta go to Erecruitment-congress.com and register to spend Thanksgiving with the Chad and Cheese and Ostend, Belgium. If you're in Europe, hop on a flight or get in the car and join us for great speakers, amazing content, and of course beer. Now, if you're in the U S and you got nothing better to do, we got, you know, a little cash, hop on a flight, and join us. We'd love to see you! Speaking of beer though.
Joel (6m 57s):
Chad (6m 57s):
Ryan Philmon received his beer drop this month. Compliments of Adzuna and he seemed pretty fucking stoked on the socials. When can we get a VIP beer tasting set up with that cat?
Joel (7m 9s):
Oh, it's already on the schedule Chad.
Chad (7m 11s):
Yes, that's right kids, not only free craft beer delivered to your door, but you also get an hour beer tasting with the Chad and Cheese.
Joel (7m 24s):
Chad (7m 25s):
Just go to Chadcheese.com/free beer from Adzuna, bourbon from our people at Sovren. Got to love those cats and maybe a free t-shirt depending on your size right now from emissary.ai,
Joel (7m 36s):
Nothing easier on the eyes than a FaceTime with us!
sfx (7m 38s):
Oh hell now.
Joel (7m 39s):
By the way, if you're going to Europe bonus points, if you fly through Transylvania. All right, let's get to some fantasy football. Chad.
sfx (7m 50s):
Joel (7m 51s):
Sponsored by poach.ai. Oh, look, who's in first place. Chad, after a drubbing of you last week, I'm in first place followed by the wonderful Miss Q "Quincy", Benjamin Franklin Koontz, Jason Vorhees, Putnam like he's in any other costume this weekend, besides Jason, Pistol Pete Suchi, Bill "Football" Fanning, "Criss cross applesauce" Russell, Christy "man on the moon", then you Chad, then bringing up the rear Michael "don't call me hung" Cox. And that is your fantasy football update. As we reach the halfway point to football season.
Chad (8m 30s):
It's about to get interesting.
Joel (8m 32s):
Birthdays, Chad birthdays. We do not have a Halloween birthday in the fan club, unfortunately, but we do have lots of birthdays, Dennis Tupper, big fan of the show, Sean Horton, Garrett Friedman, Ryan Moffitt, Steven penis chair. O'Donnell funniest social media post of the week by far, if you know, you know, Libby Sartain and our sourcing friend Shally Stekrel. Happy Birthday to all those folks.
Chad (9m 5s):
I haven't seen Shally's like under a bridge somewhere or something.
Joel (9m 7s):
And he's got a full-time job, man. He doesn't have time for people like
Chad (9m 13s):
Quick thanks to, to Jasper Spawnyard over at Tow Talent for picking up and writing about our podcast or at least aspects of our podcasts that we dropped just this Monday, where we had the EEOC commissioner, Keith Sonderling the podcast is entitled EEOC talks AI. We talk about tech regulations and enforcement here in the U S but it's more and more broadscale too, because obviously everybody's talking about how AI is impacting hiring and what is the regulatory landscape gonna look like? This is a great conversation. I was pretty stoked with this one.
Joel (9m 55s):
And with that,
Chad (9m 56s):
Topics! Yes, I've got a couple of quick updates. Just let's let me get through this update and then rant, and then we'll go ahead and get to topics. Okay. So first and foremost, quick Canvas update. They just like pulled in 50 million or something like that. Right? So we reported that Ben Herman co-founder and CEO of Canvas ejected a couple of weeks ago, without having a replacement, which seemed kind of odd? You don't generally see that when somebody leaves, you know, in good standing, let's say. Then we heard that there are co interim CEOs, which added another layer of what the actual fuck are they doing over there? Well, I just learned earlier this week, that friend of the show, Maya Grossman CMO left the same day Ben did.
Chad (10m 44s):
So the hunt for the CEO, new CEO has just launched and we will be watching this very closely.
Joel (10m 52s):
Sounds like a horror story over there!
Chad (10m 54s):
I have no clue. So here's my quick Indeed update. So an agency reached out to Joel and I regarding the lack of Indeed traffic, his clients were saying, so while searching for a very generic term, account coordinator posting in Atlanta on Indeed, they noticed that the job search metadata showed that there were over 120 openings, although only eight were showing in the search results. They did this type of search for other jobs. Notice the exact same thing around throttled results sets. Meaning if you're not paying for jobs on Indeed, you're likely not on Indeed. So why is this an issue?
Chad (11m 34s):
Well, remember when Indeed was the Google for jobs, all jobs, one place?
Joel (11m 38s):
Chad (11m 39s):
Indeed talks a big game, when we're talking about, we care about job seekers, but Indeed doesn't give a shit about getting America back to work kids. This is all about making money. And you know, it's one of those things, but they've regressed even further into a 1990s job board with more of like a pay-to-post model, right? So this is interesting just watching Indeed and watching them throttle to be able to get more cash, squeeze more cash when people need traffic the most. But I've got to say this last, but not least my rant would not be complete without saying I blame recruitment advertising agencies for allowing this to happen.
Chad (12m 19s):
When Indeed morphed further into a job board model with their two pain design, you all did nothing. When the clicks that used to be delivered to the clients, job postings on their career site went away. You did nothing. Now, Indeed is regressing even further because they know you won't do a fucking thing. So if we want to point at anybody, we can point it. Indeed. They are the evil empire. We totally get that. But the one set of organizations that could have, keep these motherfuckers in check where the recruitment ad agencies and they didn't do their job.
Joel (13m 0s):
Yeah. Chad, we have a live look at Indeed customer service. Let's let's listen on that real quick.
sfx (13m 7s):
You Cannot Leave!
Joel (13m 7s):
Oh shit. Oh shit. I have a conspiracy theory. Can I unload a conspiracy theory? Okay. I got to get in the mood here. Okay. So according to our source, Indeed is by all accounts, still scraping these jobs.
Chad (13m 21s):
Joel (13m 21s):
They're in the database somewhere, they just choose to show them or not. Part of it is hoping that people advertise those jobs, flip the switch on and start paying for the clicks. But the other theory here that I thought about over over wings for lunch, is what if Indeed does a get money from the job seeker play? And if job seekers are willing to pay, you know, $4.99 a month, $9.99 a month, they flip that switch on. And those job seekers for a fee can see all the jobs that Indeed has in their database. I'm just saying they could make a lot of money by doing that. We'll just have to see if it comes to fruition.
Chad (14m 3s):
Yes. They're already the most hated brand in our industry, as it is. Imagine if they did that. Wow.
Joel (14m 13s):
Ladders part two. All right. Let's get into our first story. Nice scoop on those from you. LinkedIn is rolled out its freelance services marketplace globally after picking up 2 million users in a smaller us beta it's about time. America started pushing it stuff on everyone else. The offering aims to match freelancers with jobs and we'll compete against Fiverr and Upwork. Chad, the water is warm. You're ready to join team LinkedIn aren't you?
Chad (14m 39s):
Does this mean that I can get poorly matched gigs now? I mean LinkedIn's matching tech sucks for regular jobs. Why would it be any better for gigs? And do we believe LinkedIn has a big gig population already?
Joel (14m 54s):
2 million baby!
Chad (14m 55s):
The question is how do they acquire more giggers and you know, luckily they have the cash to do whatever they want, but how are they going to go after that? They're going to do a shit ton of advertising. Are they going to acquire somebody who knows? They've also announced new search filters. Oh, that's innovative. And also company vacs recommendations. I mean, gee, they're blowing me away with the fucking innovation over at LinkedIn.
Joel (15m 19s):
Let's be real. LinkedIn is crushing it. Revenue was up 42% year over year. And it's fiscal first quarter to three point 14 billion, an increase of 39% in constant curse currency. According to Microsoft Incs earnings report released on Tuesday, but they got to keep the growth machine going and taking a piece of the, I don't know, let's call it seven to 8 billion or so market cap in the gig economy. Doesn't seem like a shitty idea. Additionally recruiters are learning that they don't need a recruiter account to be successful. As tools like Seek Out, Hiring Solved and others are taking share, and the automation tools are coming, no matter how much LinkedIn wishes they wouldn't.
Joel (16m 1s):
Gig make sense because LinkedIn can undercut Fiverr or Upwork and others. They don't need to subs, if they subsidize the fees to hire giggers and give giggers a bigger piece of the pie Upwork, and others will find it hard to compete in the longterm, whether or not LinkedIn does that, we'll have to see, they should do it. They have the money to do it, but just like Monster should have done to Indeed back in 2008, I think LinkedIn might be making a move to crush Upwork and Fiverr before they get too big for their britches.
Chad (16m 30s):
Yeah. I think if LinkedIn wanted to do this right, they would have done it in segments first. They would have looked at specific segments like healthcare let's say, and they would have done that right, and then rolled out from there. They did a beta, but this is more general beta. So to me it doesn't make sense. And remember you just mentioned Monster, but remember when Monster and CareerBuilder were raking in the cash, those were the days, right? And this is a market where if you are in this recruitment industry and you are not raking in the cash, that should tell you something, everybody else is. LinkedIn is killing it because they've got a great brand. Monster back in the day CareerBuilder back in the day because they had a great brand. The problem was they got lazy and they took their eye off the ball.
Chad (17m 14s):
They felt invincible. Where are they now? I would love to see them acquire, like you saw Fiverr acquire Working, Not Working. I would love to see, you know, LinkedIn acquire a Communo. I would love to see them acquire, a gig platform that was specific to an industry and just roll it out. Right. Because I don't think you can do this broad base and do it well.
Joel (17m 38s):
Yeah. Look, LinkedIn has a long history of having big visions or aspirations and really falling on their face. Anybody remember the LinkedIn ATS?
Chad (17m 49s):
Joel (17m 49s):
No one remembers the LinkedIn ATS and I've tried to go through many others and see similar, similar issues. Now certainly the market from their perspective thinks that LinkedIn is a pretty big threat. Fivvr for example, is down about 5% over the last few days. So the market does think this is a real threat and it, I mean, they should be able to pull this off. They have the profiles, they have companies that are using services like this. They can plug into the Get Hub community to help, you know, gigs and plug in tech, people into gigs.
Chad (18m 21s):
Why didn't they start there?
Joel (18m 24s):
I don't know. Again, I don't see any discipline in this organization. They had like some type of fleet story thing that they shut down. I mean, again, this all just looks like they're throwing spaghetti at the wall. There's no strategy. And there's just no technical expertise to be able to tactically put these things in place. Yeah. I agree. Do you agree that the recruitment dollars long-term do you feel like those are, those are a threat. Those are at risks.
Chad (18m 48s):
Oh, no question. No question. I think this is a smart move. I just don't like how they're executing.
Joel (18m 54s):
Yeah. Yeah. I think they have to get into the gig stuff. So we'll see. Well, companies getting into all kinds of shit means it's buy or sell Chad.
Chad (19m 4s):
Joel (19m 4s):
We love buy or sell can't leave it. But all right, you guys know how this works. We pick three companies, we do a little news blurb and then we comment and either buy or sell the company.
Chad (19m 15s):
Joel (19m 16s):
First up we have Flocareer. Well, if you're, if you're the only one who thought of Flo from Progressive, you're not alone. The Indian based interviewing startup has raised 5.7 million in series A capital to develop its business in the U S and accelerate growth in India. Founded in 2018 Flocareer conducts video and telephonic interviews for job seekers and technical backgrounds, such as cloud tech, data analytics and job on behalf of employers, it has a team of 3000 industry experienced freelancer interviewers, and a hundred experts for screening candidates from across the world. Chad, are you buying or selling what Flo is dropping?
Chad (19m 60s):
Today video interviewing platforms are a dime a dozen. And in my pretty much my quick assessment that I use and looking for these a buy and sell. Will it automate? Yes. Will it scale? Yes, I believe it will. Does the leadership have any industry experience? Little to none. But my major issue with this company is that their eyes are bigger than their stomach. And with less than $6 million in funding, they don't have enough to break into the U S market without sucking them dry. Plus, they're looking to expand outside of their core competency of tech, going into pharma and financial. It really feels like a company that lacks discipline.
Chad (20m 41s):
There's a ton of opportunity where they sit right now or even breaching out or broaching out into Europe. But again, here in the US it's going to take a much larger nut than $6 million. Plus you can't stay disciplined on just tech. This is a big sell for me.
Joel (20m 58s):
Got to have big nuts. That's one of your grading scale grading things. Isn't that right?
Chad (21m 7s):
Joel (21m 8s):
Okay. So a little background, the company says it has conducted a 150,000 interviews amounting to 7.5 million minutes. On paper this should totally work. They offer a lot of solid services for companies who want to outsource recruitment. What they call interviewing as a service, which is kind of clever as well as providing some newer automation solutions. However, I echo your sentiment, we've talked a lot lately about how difficult it is for foreign companies to make it in America. And I think these guys are in the same boat, which you have already waxed poetically. My gut tells me this one is dead on arrival. Once it hits the shores of New York or Silicon Valley or wherever the hell they land.
Joel (21m 54s):
So for me, this is a sell. All right, SkyHive. Get used to hearing talent analytics, if you haven't already. SkyHive is a Vancouver, Canada and San Fran based workforce reskilling platform that helps workers recognize and fill their skill gaps. Sky Hive has raised $40 million in series B funding bringing total funding to $48 million. SkyHive says that they can compare a company's workforce with industry benchmarks at the individual, departmental and organizational level to identify gaps and trends.
Joel (22m 34s):
Employees can upload resumes, create profiles and take skills assessments, which the platform uses to match them with learning resources. Chad, are you ready to get sky high with SkyHive?
Chad (22m 49s):
So SkyHive doesn't really help automate. It could help scale. The question is, do they have the industry knowledge to be able to pull this off? No, not even close. They have some very smart people, no question, but this industry eats smart people alive. They should just name this platform, SkyNet for HR to be quite frank. Remember when Amazon's algorithm went rogue and started using using data exposed from the web, along with human behavioral decision-making to source only men for tech positions.
Joel (23m 21s):
Chad (23m 23s):
This sounds worse. Plus here's a quote from the article in VentureBeat "while people analytics is a new domain" oh that always goes over well. "HR is a new domain for HR departments. 70% of company executives cite people analytics is a top priority" end quote, citing as a top priority and adopting Skynet are entirely two different things. And as an industry with incredibly slow to no adoption rates this is an an easy sell for me.
Joel (23m 54s):
So I took a little bit of a different spin on this one. You mentioned 70% of company execs cite people analytics as a top priority and you also have only 42% of companies saying that they were ready to address it. Translation in my mind means growth opportunity. Although there is some stiff competition SkyHive claims to be engaged with 59% of the Fortune 100. That's a pretty good percentage. I think that's a majority and they're enjoying revenue growth of 300% year over year, since 2018. For me, this one is a buy.
Joel (24m 35s):
Which brings us to another Canada based company. Eh? This is Bridgit, spelled B R I D G I T, a Toronto based workforce intelligence technology company that's focused on the construction industry, announced this week it has raised $24 million in series B funding bringing its total to $36.6 million. The company's flagship solution called Bridgit Bench is a digital cloud-based platform that helps general contractors plan and grow their workforce, leverage project data to improve bidding and staffing decisions, and forecast project pipelines to increase productivity and profitability.
Joel (25m 18s):
Chad, no one likes a good pipeline like you do are you ready to buy Bridgit?
Chad (25m 21s):
Bridgit? The weird girl you knew from high school. I'm a big fan of talent pipelines. The thing is, will this help automate? No. Will it help scale? Yeah, I believe so. What's the industry knowledge within the organization? None. I mean, they have some incredibly smart people, that both the co-founders I believe are in the Forbes, 30 under 30 Jesus fucking Christ. A very slick platform and even slicker marketing, which is a huge plus the platform helps identify talent faster and helps companies create a bench before landing a project. So workforce planning is a real problem in all industries, including the construction industry.
Chad (26m 6s):
But I believe a much larger problem is having actual bodies to do the job. It's like painting a car that has no engine. It looks good, but it's going nowhere. I wanted to like this. I really did. The problem is they're not addressing the real issues in the industry itself, which is manpower. This is a sell for me.
Joel (26m 30s):
Well, you are salty on the doorstep of Halloween, Chad. I love it. All right. Again, I differ on you, differ from me on this one. I have three words for you build back better. I'm not sure how much the infrastructure bill will be, but I do know a lot of construction is going to happen as a result. And I know there's a housing shortage around the globe. All of that is Latin for anyone who supports this ecosystem is a winner. Bridgit Bench, not a great name, but I'll go with it has helped the company double in size and increased revenue by 140% since its last funding round. And it's just getting started.
Joel (27m 11s):
I'm going to have some ketchup flavored potato chips and give this a buy rating.
Chad (27m 16s):
I love companies who say they have grown by 140%. They're brand new. We have no fucking clue what that even means.